Spread is back at $4.25. Hard to understand why.
The LNCO-BRY spread is now $7.25.
I shorted 6k shares lnco and bought 6k shares line at $4 spread. No way it should be that high!
Should be a good trade. Could you actually short LNCO or did you have to buy puts (broker says it can't borrow LNCO shares to short).
Line down 35% over past year, LNCO only down 20%. Doesn't make sense. Spread is now approaching $4.50.
A lot of lnco is institutionally held - they are less likely to dump than the rest of us.